Massachusetts Financial Services Co. MA Reduces Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Massachusetts Financial Services Co. MA lowered its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 20.2% during the third quarter, Holdings Channel reports. The firm owned 1,645,560 shares of the medical device company’s stock after selling 416,149 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cooper Companies were worth $181,571,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC raised its position in Cooper Companies by 300.0% in the 1st quarter. Quent Capital LLC now owns 828 shares of the medical device company’s stock valued at $84,000 after purchasing an additional 621 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Cooper Companies by 300.0% during the first quarter. Acadian Asset Management LLC now owns 720 shares of the medical device company’s stock worth $73,000 after buying an additional 540 shares during the last quarter. Covestor Ltd increased its position in Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 208 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Cooper Companies by 443.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,876 shares of the medical device company’s stock valued at $495,000 after acquiring an additional 3,979 shares during the last quarter. Finally, American International Group Inc. lifted its position in Cooper Companies by 298.7% during the 1st quarter. American International Group Inc. now owns 52,749 shares of the medical device company’s stock worth $5,352,000 after acquiring an additional 39,520 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the sale, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. This trade represents a 24.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the completion of the transaction, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at $4,714,534.08. The trade was a 72.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 256,373 shares of company stock valued at $27,637,427 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COO. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Wells Fargo & Company upped their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Piper Sandler boosted their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. StockNews.com cut Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird raised their price target on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Stock Performance

NASDAQ COO opened at $100.80 on Friday. The business has a 50 day moving average price of $105.91 and a 200 day moving average price of $98.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The company has a market capitalization of $20.08 billion, a P/E ratio of 56.16, a PEG ratio of 2.14 and a beta of 0.99. The Cooper Companies, Inc. has a 1-year low of $82.21 and a 1-year high of $112.38.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts expect that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Cooper Companies Profile

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.